CTS vs FNGD: Correlation
How closely do CTS Corporation (CTS) and MicroSectors FANG Index -3X Inverse Leveraged ETNs due (FNGD) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTS and FNGD?
Over the past 3 years, CTS and FNGD moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.21) runs above the 3-year figure (-0.42). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -1053.3 %².
Out of 26 assets tracked against CTS, FNGD lands near the bottom at #24. The last year tells two different stories: CTS led by 91.5 percentage points, +35.8% for CTS against -55.7% for FNGD. One caveat on sizing: FNGD is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CTS vs FNGD: side by side
| CTS (CTS Corporation) | FNGD (MicroSectors FANG Index -3X Inverse Leveraged ETNs due) | |
|---|---|---|
| 1-year return | +35.8% | -55.7% |
| 5-year return | +63.4% | -99.4% |
| Volatility (ann.) | 33.0% | 75.7% |
| Beta vs S&P 500 | 1.40 | -4.54 |
| Max drawdown (3Y) | -40.6% | -97.6% |
| Market cap | $1.6B | – |
| P/E (trailing) | 23.8 | 20.6 |
| Dividend yield | 0.28% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTS | FNGD |
|---|---|---|
| 2022 | +7.8% | +52.2% |
| 2023 | +11.4% | -90.1% |
| 2024 | +20.9% | -76.6% |
| 2025 | -18.4% | -61.4% |
| 2026 | +34.7% | -49.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTS and FNGD good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CTS and FNGD?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.21 over the last year and -0.39 over 5 years.
Is FNGD a good diversifier for CTS?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cts-vs-fngd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cts-vs-fngd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTS correlations · FNGD correlations
